Is Key Largo, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Key Largo is a buyer's market

Buyer's
Market

Difference Since April 2023

Since last year, Key Largo has remained a Buyer's Market.

Key Takeaway

Key Largo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Key Largo, FL

How much do homes in Key Largo, FL cost?

Median Sold Price

$1,061,250

$691/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$301,250(+39.6%)

Key Takeaway

Homes in Key Largo have sold for 39.6% more than they did a year ago.

Summary: The median home sold price in Key Largo was $1,061,250 in April 2024, up 39.6% from last year, and the median price per square foot was $691.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $339K$510K
+50.4%
2 $622.5K$810K
+30.1%
3 $828K$1.1M
+35.9%
4 $1.1M$1.7M
+57.0%
5+ $2.0M$2.6M
+30.0%

Summary: Key Largo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.4%, 2 bedroom homes increased by 30.1%, 3 bedroom homes increased by 35.9%, 4 bedroom homes increased by 57%, and 5+ bedroom homes increased by 30%.

Median Sold Price Compared To Nearby Cities

Key Largo
+39.6%
Upper Keys
+33.5%

Housing Supply in Key Largo, FL

How many homes are available in Key Largo, FL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
99110+11.1%

Summary: The Key Largo real estate market had 110 homes for sale in April 2024, a 11.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 34
+33.3%
2 2622
-15.4%
3 4353
+23.3%
4 1821
+16.7%
5+ 910
+11.1%

Summary: The Key Largo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
109-10.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Key Largo, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Key Largo in April 2024, down by 10.0% month-over-month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.

Days on Market for Key Largo, FL

How long does it take to sell a home in Key Largo, FL?

Average Sale Time

Apr 2023Apr 2024CHANGE
85 Days58 Days-31.3%

Summary: Homes in Key Largo had an average of 58 days on market in Apr 2024, down by 31.3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Key Largo are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in Key Largo; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Key Largo, FL

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